The Florida-based Soreide Law Group obtained the following information from FINRA’s BrokerCheck, available to the public on FINRA’s website, on Naples, Florida broker/investment advisor:
WILLIAM SCOTT MEADOR (SCOTT MEADOR, W. SCOTT MEADOR).
W SCOTT MEADOR has been registered with UBS FINANCIAL SERVICES INC. of Naples, Florida, as a broker since 9/22/2008, and as an investment advisor since 10/3/2013.
According to FINRA’s BrokerCheck, WILLIAM SCOTT MEADOR has been in the securities industry for 33 years and has been listed with 2 firms. Meador has 2 disclosures on his FINRA CRD report, both are “Customer Disputes.”
There was a dispute filed against WILLIAM SCOTT MEADOR on 4/21/2009 alleging, “THE CUSTOMERS ALLEGE UNSUITABLE INVESTMENT RECOMMENDATIONS.” The dispute settled for $40,000.00. Meador denied the allegations.
On 11/1/2024 there was a “Customer Dispute” filed against WILLIAM SCOTT MEADOR that is currently pending. The allegations are, “Time frame: 2008 and 2022 Claimants allege that account used to collateralize a line of credit was unsuitably allocated in equities. Claimants further allege that the overall investment strategy was not in their "Best Interest.” The damage amount requested is $1,000,000.00.
According to FINRA, Rule 2111 requires that a firm or associated person have a reasonable basis to believe a recommended transaction or investment strategy involving a security or securities is suitable for the client. This is based on the information obtained through reasonable diligence of the firm or associated person to determine the client’s investment profile. FINRA’s rule states that the client’s investment profile “includes, but is not limited to, the customer’s age, other investments, financial situation and needs, tax status, investment objectives, investment experience, investment time horizon, liquidity needs [and] risk tolerance,” among other information.
To discuss this article or any other securities related issues, contact the Florida-based Soreide Law Group and speak to an experienced securities lawyer at no cost at: 888-760-6552.
Soreide Law Group represents our clients nationally before FINRA on a contingency fee basis.
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